Answered: A piece of machinery can be bought for…

A piece of machinery can be bought for Php 10,000.00 cash, or for Php2,000.00 down and payments of Php 750.00 per year for 15 years. What is the annual interest rate for the time payments?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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Question

3. Please answer the problem Subject: engineering economics Pls answer as soon as possible

A piece of machinery can be bought for Php 10,000.00 cash, or for Php2,000.00
down and payments of Php 750.00 per year for 15 years. What is the annual interest
rate for the time payments?

Application of economic techniques to the evaluation of design and engineering alternatives. The role of engineering economics is to assess the appropriateness of a given project, estimate its value, and justify it from an engineering standpoint.

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